TRAVEL ZONE: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
TRAVEL ZONE
Largest movements
- Cash -€454,369
down €454,369 (-62.2%), from €730,704 to €276,335
mainly Receivables within one year (-€336,895) and Trade debts (-€188,279)
- Receivables within one year +€336,895
up €336,895 (+403%), from €83,496 to €420,391
of which Trade receivables: +€325,400
- Deferred charges and accrued income +€89,957
up €89,957 (+6.5%), from €1.4m to €1.5m
- Tangible fixed assets -€35,923
down €35,923 (-21.9%), from €163,731 to €127,808
of which Furniture and vehicles: -€32,276
- Trade debts -€188,279
down €188,279 (-10.0%), from €1.9m to €1.7m
- Accrued charges and deferred income +€135,387
up €135,387 (+86.6%), from €156,271 to €291,657
- Debts after one year -€34,856
down €34,856 (-25.7%), from €135,417 to €100,561
- Gross operating margin +€74,565
up €74,565 (+26.8%), from €277,967 to €352,532
- Taxes +€26,825
up €26,825 (+496%), from €5,407 to €32,232
- Other operating charges +€17,349
up €17,349 (+1,047%), from €1,657 to €19,006
- Depreciation +€11,884
up €11,884 (+48.8%), from €24,376 to €36,260
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,401,428 | €2,337,651 | -€63,776 | -2.7% |
| Fixed assets | 21/28 | €164,068 | €127,808 | -€36,260 | -22.1% |
| Intangible fixed assets | 21 | €337 | €0 | -€337 | -100% |
| Tangible fixed assets | 22/27 | €163,731 | €127,808 | -€35,923 | -21.9% |
| Plant, machinery and equipment | 23 | €15,581 | €13,116 | -€2,465 | -15.8% |
| Furniture and vehicles | 24 | €138,758 | €106,482 | -€32,276 | -23.3% |
| Other tangible fixed assets | 26 | €9,391 | €8,210 | -€1,181 | -12.6% |
| Current assets | 29/58 | €2,237,360 | €2,209,843 | -€27,517 | -1.2% |
| Amounts receivable after more than one year | 29 | €43,000 | €43,000 | = | 0.0% |
| Other amounts receivable | 291 | €43,000 | €43,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €83,496 | €420,391 | +€336,895 | +403% |
| Trade receivables | 40 | €76,591 | €401,990 | +€325,400 | +425% |
| Other amounts receivable | 41 | €6,906 | €18,401 | +€11,495 | +166% |
| Cash at bank and in hand | 54/58 | €730,704 | €276,335 | -€454,369 | -62.2% |
| Deferred charges and accrued income | 490/1 | €1,380,159 | €1,470,117 | +€89,957 | +6.5% |
| Total equity and liabilities | 10/49 | €2,401,428 | €2,337,651 | -€63,776 | -2.7% |
| Equity | 10/15 | €130,356 | €152,589 | +€22,233 | +17.1% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €11,550 | €33,780 | +€22,230 | +192% |
| Distributable reserves | 133 | €11,550 | €33,780 | +€22,230 | +192% |
| Profit (loss) carried forward | 14 | €43,806 | €43,809 | +€3 | 0.0% |
| Amounts payable | 17/49 | €2,271,072 | €2,185,063 | -€86,009 | -3.8% |
| Amounts payable after more than one year | 17 | €135,417 | €100,561 | -€34,856 | -25.7% |
| Financial debts | 170/4 | €135,417 | €100,561 | -€34,856 | -25.7% |
| Amounts payable within one year | 42/48 | €1,979,384 | €1,792,845 | -€186,539 | -9.4% |
| Current portion of amounts payable after more than one year | 42 | €33,518 | €43,213 | +€9,695 | +28.9% |
| Trade debts | 44 | €1,885,352 | €1,697,074 | -€188,279 | -10.0% |
| Suppliers | 440/4 | €1,885,352 | €1,697,074 | -€188,279 | -10.0% |
| Taxes, remuneration and social security | 45 | €37,630 | €31,084 | -€6,545 | -17.4% |
| Taxes | 450/3 | €9,936 | €5,425 | -€4,511 | -45.4% |
| Remuneration and social security | 454/9 | €27,694 | €25,660 | -€2,034 | -7.3% |
| Other amounts payable | 47/48 | €22,884 | €21,474 | -€1,410 | -6.2% |
| Accrued charges and deferred income | 492/3 | €156,271 | €291,657 | +€135,387 | +86.6% |
| Remuneration, social security and pensions | 62 | €227,742 | €225,233 | -€2,509 | -1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,376 | €36,260 | +€11,884 | +48.8% |
| Other operating charges | 640/8 | €1,657 | €19,006 | +€17,349 | +1,047% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €277,967 | €352,532 | +€74,565 | +26.8% |
| Operating profit (loss) | 9901 | €24,192 | €72,033 | +€47,841 | +198% |
| Financial income | 75/76B | €1,446 | €2,147 | +€702 | +48.5% |
| Recurring financial income | 75 | €1,446 | €2,147 | +€702 | +48.5% |
| Financial charges | 65/66B | €19,876 | €19,716 | -€160 | -0.8% |
| Recurring financial charges | 65 | €19,876 | €19,716 | -€160 | -0.8% |
| Profit (loss) for the period before taxes | 9903 | €5,762 | €54,464 | +€48,703 | +845% |
| Income taxes | 67/77 | €5,407 | €32,232 | +€26,825 | +496% |
| Profit (loss) for the period | 9904 | €354 | €22,233 | +€21,878 | +6,174% |
| Profit (loss) for the period to be appropriated | 9905 | €354 | €22,233 | +€21,878 | +6,174% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.